Fugro-Geoteam AS, the Norwegian Seismic Contractor and subsidiary of Fugro NV has been awarded a contract to acquire marine 3D seismic data offshore Qatar.

The survey, worth approximately $6 million is to be acquired over Block 10 with Fugro-Geoteam’s M/V Geo Baltic utilising five 3600 m streamers at 100 m separation. The project is scheduled to begin in early August and is expected to take approximately two and a half months covering an area of approximately 1200 sq. km.
Fugro-Geoteam AS is involved in 2D, 3D and 4D world wide marine seismic acquisition and processing whilst operating a modern fleet of seismic 2D and 3D vessels from the headquarters based in Oslo, Norway.
The award co-incides with optimistic profit announcements. The net result before amortisation of goodwill for the first half-year of 2004 is higher than over the same period of 2003. This is despite a lower dollar exchange rate, after the weak second half of 2003 - and the integration of Thales GeoSolutions, acquired end 2003.
The result of the Development & Production business line is also significantly better than last year. Cooperation and synergy between the various offices has enhanced profitability. The Airborne group produced a good result in the first six months, primarily as a result of a healthy order intake.